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Crinetics Pharmaceuticals

CRNX Acquired Rare disease Lead: Approved 9 Biotech Distilled articles ↓ 32 filings & releases ↓ Cash $55.5M (Jun 30, 2026) ↓ 9 verdicts ↓
MetabolicOncology Small Molecule

Most recent annual filing: 2026-02-15

Pipeline (6 active programs)

Technology platforms

NDC

Non-peptide drug conjugate (NDC) platform linking SST2 agonists with cytotoxic payloads via cleavable linkers for targeted delivery to SST2-expressing tumor cells; focus on neuroendocrine tumors and other SST2-positive solid tumors including SCLC, meningioma, head and neck cancer, and breast cancer

Targets: SST2, somatostatin receptor 2

Capital (as filed)

Cash
$55.5M cash and cash equivalents · Jun 30, 2026 (10-Q)
Short-term investments
$1.15B Jun 30, 2026
Operating cash flow
−$94.2M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$1.20B cash per the update of Aug 3, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (9)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (9 calls)

Every verdict Biotech Distilled has published on Crinetics Pharmaceuticals, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-04-02 Buy core Crinetics Pharmaceuticals (CRNX) - Scientific Deep Dive for Paltusotine and Pipeline Products De-risked commercial-stage asset with validated medicinal chemistry, ironclad balance sheet, and high M&A appeal as Crinetics transitions from clinical-stage science engine to commercial-stage powerhouse.
  2. 2026-04-28 Buy core UPDATE: Crinetics Pharmaceuticals (CRNX) — The EC Catalyst Hits EC approval landed on schedule, incrementally de-risking the lead asset; commercial risk remains the binding constraint ahead of the Q1 print.
  3. 2026-05-08 Buy core UPDATE: Crinetics Pharmaceuticals (CRNX) — The Q1 Print Lands in the Bull Range Q1 revenue of $10.3M landed in the bull range with 90% sequential growth and 70% reimbursement rate, actively dismantling the payer prior-auth bear case.
  4. 2026-05-09 Buy core UPDATE: Crinetics Pharmaceuticals (CRNX) — Sell-the-News Decoded The -13.8% single-session drop reflects sell-the-news mechanics and positioning, not any change in fundamentals; the thesis is unchanged.
  5. 2026-06-15 Buy core UPDATE: Crinetics Pharmaceuticals (CRNX) — The ENDO Data Dump ENDO data delivered first clinical receipt for atumelnant in Cushing's and 96-week PALSONIFY durability; stock drift looks like positioning not a thesis crack.
  6. 2026-07-06 Exit UPDATE: Crinetics Pharmaceuticals (CRNX) - Vertex Pays $10 Billion for the Pipeline-in-a-Pill Vertex acquiring Crinetics for $85/share cash (~$10B equity value) validates the M&A thesis; position transforms from scientific conviction trade to deal-arb with no reason to fight the close.
  7. 2026-08-04 Exit UPDATE: Crinetics Pharmaceuticals (CRNX) - The Last Quarter as a Public Company Q2 PALSONIFY revenue of $24M beat the base case but the stock is now a bond at $83.76 vs $85 cash consideration; 1.5% upside against asymmetric downside on a broken deal.
  8. 2026-08-15 Exit UPDATE: Crinetics Pharmaceuticals (CRNX) - The Antitrust Gate Opens HSR expired without second request and three foreign clearances received; antitrust was the last real risk and it is now off the board with 0.35% spread remaining.
  9. 2026-08-28 Exit UPDATE: Crinetics Pharmaceuticals (CRNX) - The Last Condition Falls Shareholders approved the merger 99.97% in favor; all conditions satisfied and merger closes September 1, 2026.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Filings & releases (32)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 7, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

21 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)